XRP trading volume jumps 65% as Ripple awaits potential SEC case resolution
XRP trading volume jumps 65%
Ripple’s XRP has experienced a remarkable surge in trading activity, with volumes rising by 65% on South Korea’s leading exchanges, Upbit and Bithumb, over the past 24 hours.
Globally, XRP is up 6.9%, reflecting growing investor optimism about a potential dismissal of the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs, according to the Cryptopolitan.
Legal Speculation Fuels Market Optimism
The legal battle between Ripple and the SEC has been a defining issue for the cryptocurrency industry, with billions at stake. The SEC alleges that Ripple’s $2 billion XRP sales violated federal securities laws.
However, Ripple has gained traction after Judge Analisa Torres ruled in 2023 that XRP sales to retail investors did not constitute securities transactions.
Recent developments, including the resignation of SEC Chairman Gary Gensler, have fueled hopes of regulatory reform and a favorable outcome for Ripple. Pro-crypto lawyer John Deaton, a vocal critic of the SEC’s approach, has called for the dismissal of all non-fraud cases, arguing that the agency’s actions have stifled innovation and cost XRP holders an estimated $15 billion.
XRP Price Momentum Builds
In South Korea, XRP is trading at 4,864 KRW, up 28% from last week and 40% over the past month. Technical analysts note that XRP’s recent rebound from the $3 support level positions it for further growth, provided it maintains upward momentum.
Sentiment indicators, including the Fear and Greed Index at 76, suggest strong market confidence.
As Ripple awaits the SEC’s next legal moves, XRP continues to rally, signaling the market’s anticipation of a groundbreaking resolution that could reshape cryptocurrency regulations.
Legal experts predict the Ripple vs. SEC litigation could conclude by mid-2025. Ripple attorney Jeremy Hogan suggests a settlement or dismissal is likely by April or May 2025.
